When will SpaceX and Anthropic IPO? SuRo CEO says quality drives decision By Investing.com

Investing.com -- The pipeline of highly anticipated potential initial public offerings represents a significant opportunity for public market investors, but the timing of landmark listings from companies like SpaceX, OpenAI and Anthropic will ultimately be driven by strategic conditions rather than necessity, according to SuRo Capital CEO Mark Klein.

In an exclusive interview with Investing.com, Klein argued that the most consequential names approaching the public markets are under no pressure to list.

"Companies like SpaceX, Anthropic, and OpenAI have demonstrated a sustained ability to raise significant capital in the private markets," he said, adding that they "will initiate IPOs when they determine the market environment optimally supports their valuation and strategic goals."

With broader markets around all-time highs, Klein noted there is a "clear increase in market attention for these offerings."

On concerns that a wave of large IPOs could drain market liquidity, Klein pointed to the scale of available capital.

OpenAI's recent financing, he said, demonstrates that "substantial capital remains available and ready to be deployed into high-quality assets."

"Given this demand for companies like those in our portfolio and the broader categories we invest in, we believe SuRo plays an important role in the current ecosystem," he added. "We offer an advantage by providing investors with pre-IPO exposure to these companies, combined with the liquidity of a publicly traded stock, allowing our shareholders to participate in value creation well before a public offering."

Klein struck a notably different tone on the current IPO pipeline compared to the 2020-2021 boom.

"While the 2020 and 2021 period was characterized by high valuations and subsequent market corrections, the current pipeline features companies with strong, demonstrable financial metrics."

He cited Canva, with 265 million monthly active users and $4 billion in revenue, and Whoop, which is delivering 100% annual growth, as examples of companies with the structural scale to support their valuations. Both names are SuRo Capital portfolio companies.

SuRo's own net asset value was expected to rise to between $14.00 and $14.50 per share as of March 31, 2026, driven in part by OpenAI's latest financing round and WHOOP's Series G at a $10.1 billion valuation.

The company previously remarked that the developments "reinforce both the scale of demand we are seeing and the continued maturation of several notable pre-IPO businesses within our portfolio."

For investors holding pre-IPO companies, Klein explained that SuRo's general approach once portfolio companies go public is to begin monetizing holdings after lockup periods expire and share prices stabilize, at which point public investors can access those names directly.